Albuquerque Office Tower Headed to Auction Block
The starting bid price at auction is $500,000 for a 10-story tower in Albuquerque’s Highland Business district, just north of Central Avenue. The auction for Two Park Central Tower is set to open on June 6. The former office tower, is now zoned for 75-115 multifamily housing units and on-site parking. Rhino Investments Group is listed as the seller. Ten-X is handling the tower’s auction.
According to Albuquerque Business First, the building comes with eight residential floorplans ranging from 489 to 1,546 square feet. Those plans to convert the tower from office to apartment units are already in place. That means the eventual buyer can begin to remodel the building based on those conversion plans.
Two Park Central Tower’s gross square footage is listed at 101,000 square feet. It was originally built in 1960 and renovated in the 1990s.